CFO4Life Group LLC Decreases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

CFO4Life Group LLC lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.4% in the 1st quarter, HoldingsChannel reports. The firm owned 1,774 shares of the pharmaceutical company’s stock after selling 102 shares during the quarter. CFO4Life Group LLC’s holdings in Vertex Pharmaceuticals were worth $742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Telos Capital Management Inc. raised its position in shares of Vertex Pharmaceuticals by 1.6% during the 4th quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock valued at $6,133,000 after buying an additional 237 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Vertex Pharmaceuticals by 15.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,897 shares of the pharmaceutical company’s stock valued at $12,497,000 after buying an additional 3,999 shares in the last quarter. Brookstone Capital Management raised its position in shares of Vertex Pharmaceuticals by 11.1% during the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after buying an additional 237 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Vertex Pharmaceuticals by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 124,197 shares of the pharmaceutical company’s stock valued at $50,535,000 after buying an additional 8,866 shares in the last quarter. Finally, Brevan Howard Capital Management LP raised its position in shares of Vertex Pharmaceuticals by 216.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock valued at $1,965,000 after buying an additional 3,303 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on VRTX. Redburn Atlantic assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a “buy” rating and a $545.00 target price on the stock. Guggenheim lifted their target price on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Evercore ISI raised shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price on the stock in a research note on Thursday, April 11th. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Finally, StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $452.57.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX traded down $1.23 during trading hours on Friday, hitting $490.90. 425,589 shares of the company’s stock traded hands, compared to its average volume of 1,212,657. The business’s fifty day moving average price is $459.28 and its two-hundred day moving average price is $431.15. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $126.68 billion, a P/E ratio of 31.94, a P/E/G ratio of 2.55 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52 week low of $340.20 and a 52 week high of $496.62.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $1.10. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.67 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.08 EPS for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total value of $1,075,521.60. Following the completion of the transaction, the chief marketing officer now directly owns 30,099 shares in the company, valued at $14,198,300.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Edward Morrow Atkinson III sold 7,288 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $3,483,664.00. Following the transaction, the executive vice president now owns 15,972 shares of the company’s stock, valued at $7,634,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the transaction, the chief marketing officer now directly owns 30,099 shares in the company, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. Insiders sold a total of 28,366 shares of company stock worth $13,058,787 over the last three months. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.